Sec. 8. (a) The graduate medical education fund is established within the state treasury. Subject to subsection (b), money in the fund is to be used for the purposes specified in sections 2(1), 2(3), and 7 of this chapter.
(b) Except as provided in section 7(b) of this chapter, a recipient of money from the fund must agree to provide matching funds equal to at least twenty-five percent (25%) of the money provided.
(c) The fund consists of the following:
(1) Appropriations by the general assembly.
(2) Grants.
(3) Gifts.
(d) The board shall administer the fund.
(e) The expenses of administering the fund may be paid from the fund.
(f) Money in the fund that is not needed to meet the obligations of the fund may be invested in the manner that other public money is invested. Interest or other investment returns on money in the fund become part of the fund.
(g) Money in the fund at the end of a state fiscal year does not revert to any other fund and remains available for expenditure for the purposes specified in sections 2(1), 2(3), and 7 of this chapter.
As added by P.L.190-2015, SEC.4. Amended by P.L.37-2020, SEC.14.